New York State Common Retirement Fund Has $2.04 Million Holdings in Global-e Online Ltd. (NASDAQ:GLBE)

New York State Common Retirement Fund boosted its holdings in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 23.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,248 shares of the company's stock after purchasing an additional 11,010 shares during the quarter. New York State Common Retirement Fund's holdings in Global-e Online were worth $2,041,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in GLBE. Fred Alger Management LLC boosted its holdings in Global-e Online by 204.6% in the fourth quarter. Fred Alger Management LLC now owns 4,239,470 shares of the company's stock worth $231,178,000 after purchasing an additional 2,847,868 shares during the period. Lord Abbett & CO. LLC bought a new stake in Global-e Online in the fourth quarter valued at $40,146,000. Norges Bank bought a new stake in Global-e Online in the fourth quarter valued at $38,875,000. T. Rowe Price Investment Management Inc. bought a new stake in Global-e Online in the fourth quarter valued at $27,231,000. Finally, Marshall Wace LLP lifted its stake in Global-e Online by 951.2% in the fourth quarter. Marshall Wace LLP now owns 437,421 shares of the company's stock valued at $23,853,000 after buying an additional 395,809 shares during the last quarter. Institutional investors and hedge funds own 94.60% of the company's stock.

Wall Street Analysts Forecast Growth

GLBE has been the topic of a number of recent research reports. KeyCorp cut their target price on Global-e Online from $60.00 to $45.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Raymond James Financial cut their price objective on shares of Global-e Online from $60.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Truist Financial lifted their price objective on shares of Global-e Online from $31.00 to $32.00 and gave the company a "sell" rating in a research note on Thursday, July 17th. The Goldman Sachs Group dropped their price target on shares of Global-e Online from $59.00 to $47.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, Benchmark dropped their price target on shares of Global-e Online from $61.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $48.08.

Global-e Online Stock Performance

Shares of NASDAQ GLBE traded up $0.42 during trading hours on Friday, hitting $34.69. The stock had a trading volume of 706,529 shares, compared to its average volume of 1,368,044. The company has a market capitalization of $5.89 billion, a P/E ratio of -96.36, a P/E/G ratio of 2.03 and a beta of 1.25. The firm's 50-day moving average price is $32.84 and its two-hundred day moving average price is $39.95. Global-e Online Ltd. has a 52 week low of $26.64 and a 52 week high of $63.69.

Global-e Online (NASDAQ:GLBE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. The business had revenue of $189.88 million during the quarter, compared to analysts' expectations of $187.84 million. Global-e Online had a negative return on equity of 6.96% and a negative net margin of 7.70%. The firm's quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.19) EPS. As a group, analysts expect that Global-e Online Ltd. will post 0.25 EPS for the current fiscal year.

Global-e Online Profile

Global-E Online Ltd., together with its subsidiaries, provides a platform to enable and accelerate direct-to-consumer cross-border e-commerce in Israel, the United Kingdom, the United States, and internationally. Its platform enables international shoppers to buy online and merchants to sell from, and to, worldwide.